The Greek Elections Will Not Make A Difference

Alexis Tsipras hailed a victory for his left-wing Syriza party after winning a second general election in less than 9 months. However, the many Greeks I have met with say they expect nothing to change. Before the vote, I reported that the Greeks I spoke with said that they did not expect anything to change because the previous government never did as they said.

Tsipras said Greeks face a difficult road to recovery from the financial crisis that will only come through hard work. Yet Tsipras is too busy trying to be part of the political establishment of Europe to save his own country. He was elected to end austerity, but he has embraced it instead. With his Syriza victory, he actually won just over 35%, which was slightly less than his previous election results. By no means does he represent the majority of Greeks. He will rule only by forming a coalition with the nationalist Independent Greeks, and he remains in opposition with the New Democracy Party who gained 28%. The far-right Golden Dawn came in third with only 7%, which was a gain over the last election.

Greece was historically composed of city-states. We can very well see a return to that political structure since there appears to be no resolution to address the oppression of the Greek people. This is the likelihood of a crisis in debt brewing within Europe.

Full article: The Greek Elections Will Not Make A Difference (Armstrong Economics)

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